Why Demand for MSSPs is Higher Than Ever

Is your MSSP prepared for the rapidly increasing demand for cybersecurity services?

The security sector is seeing tremendous growth due to businesses and organizations prioritizing security as their top concern. Even in these economically challenging times, companies do not want to compromise on security; protecting their organization is key for delivering on their mission, innovating, and serving their customers.

Microsoft’s recent earnings report revealed that its security business has grown to a $20 billion per year operation, double the $10 billion it earned in 2021 and up from the $15 billion it generated in 2022. They have committed to investing $20 billion through 2026 to expand their security offerings: Microsoft Defender, Microsoft Entra, Microsoft Intune, Microsoft Priva, Microsoft Purview, and Microsoft Sentinel, offering a comprehensive range of security solutions, covering everything from prevention and detection to compliance management.

Vasu Jakkal, Microsoft CVP of security, compliance, identity, and management, says that security is a top priority for most organizations. The threat of attacks has not diminished, especially during financially constrained times, and ransomware is becoming an attractive option for attackers to make a quick profit.

The cybersecurity market is expected to reach $2 trillion, as more businesses recognize the need for protection and detection measures to keep their networks safe. Microsoft has seen its customer base grow from 400,000 organizations in 2021 to 860,000 in 2023.

In contrast to the rising demand for cybersecurity services, there is a significant shortage of cybersecurity professionals in the U.S., with 3.5 million to 4 million unfilled cybersecurity jobs.

In a market where the category kings like Microsoft are quickly expanding, MSSPs need to be prepared to meet the rising demand for security solutions. One of the ways they can do this is by automating and scaling their operations. This will allow them to provide efficient and effective security solutions to their customers, while keeping pace with the rapidly evolving threat landscape.